AMD beats Q3 estimates, outlook light

AMD reported better-than-expected third quarter financials thanks to increased sales in its computing and graphics segment. However, AMD’s outlook for the current quarter sent its shares down after hours.

The semiconductor maker posted a net income of $71 million, or 7 cents per share.

Non-GAAP earnings were 10 cents per share on revenue of $1.64 billion, up 26 percent year-over-year.

Wall Street was expecting AMD to post earnings of 8 cents per share on revenue of $1.51 billion.

“Strong customer adoption of our new high-performance products drove significant revenue growth and improved financial results from a year ago,” said AMD chief executive Lisa Su. “Our third quarter new product introductions and financial execution mark another important milestone as we establish AMD as a premier growth company in the technology industry.”

Here’s a closer breakdown of the company’s performance, by department: